Fed survey: US economy growing moderately

WASHINGTON (AP) — A Federal Reserve survey showed the U.S. economy expanded in all parts of the country in January and February, helped by strong auto sales, a continued recovery in housing and improved job prospects.

Consumer spending increased in most regions, although the gains slowed in many districts and much of the increases were driven by auto sales. Many districts said consumers held back on spending elsewhere because of higher taxes, rising gas prices and uncertainty over the federal budget.

Housing markets showed more strength in nearly all parts of the country, while manufacturing showed modest improvements in most regions.